Why Would a Person Need a Surety Bond?
What is a Surety Bond? A surety bond is a contract between three parties: the obligee (the party who requires the bond), the principal (the party who provides the bond), and the surety (the party who guarantees the bond). The principal agrees to pay a sum of money to the obligee if the terms of […]
How Does A Surety Bond’s Claims Process Work?
What are some of the most common reasons for filing a Surety Bond claim? There are a number of reasons why someone might file a Surety Bond claim. Some of the most common reasons include: Breach of contract: This is one of the most common reasons for filing a bond claim. When one party to […]